RBA takes over Posta scheme as retirees’ dues hit Sh1bn

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[Source: Daily Nation, by Bonface Otieno]

The regulator has put Postal Corporation of Kenya Staff Retirement Benefit Scheme (KRSBS) under administration after it failed to collect Sh1 billion retirement benefits dues from Postal Corporation of Kenya (PCK).

The move by the Retirement Benefits Authority (RBA) effectively disbands the scheme’s board pending appointment of an administrator within a month.

In a letter dated July 29 and signed by RBA chief executive Nzomo Mutuku, the pension scheme had not…

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